Property prices may fall further, insist Fitch

Property prices may fall further, insist Fitch

Fitch Ratings insist that property prices here may fall by an additional 20%.

Since 2007, the average house price in Ireland has fallen by around 50% but according to Fitch there could be some way yet to go before the property market begins to fully stabilise.

In a statement today, the ratings agency said: “Fitch expects the largest further house price declines for peripheral countries.

“Different from Fitch house price forecast for most countries, the house price assumption for Ireland is a conservative estimate reflecting various downside risks in the market.”

Fitch acknowledged though that it is “also conceivable” that Irish prices will stabilise sooner and at a higher level than its base case assumption suggests.

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